FCP and joint venture partner Avanti Residential have made the $65 million acquisition of Omnia on Thomas, a 382-unit garden apartment community at 1645 E. Thomas Road in Phoenix.
Omnia on Thomas represents FCP’s third multifamily investment in Phoenix and its second time partnering with Avanti after an initial joint venture in Colorado earlier this year.
“FCP is excited to expand our successful partnership with Avanti at Omnia on Thomas,” said Bart Hurlbut, FCP vice president. “Together, we will continue to invest in the property to improve the resident experience and the asset’s market position.”
Christian Garner, CEO at Avanti Residential, added, “We are pleased to partner with FCP on this project and leverage our knowledge of the property and the local submarket. We view this as a unique opportunity to infuse new capital into the project and further enhance the resident experience at Omnia on Thomas.”
Omnia on Thomas features studio, o
